Topic: Internal Revenue Service

Oct. 17 is Last Day for Businesses to Request Tax Credit Certification for Some New Hires

October 8, 2009 |

Businesses planning to claim the recently-expanded work opportunity tax credit for eligible unemployed veterans and disconnected youth hired before mid-September now have until Oct. 17 to request the certification required for these workers, according to the Internal Revenue Service.

In Notice 2009-69, released in August, the IRS extended the certification deadline from Aug. 17, 2009, to Oct. 17, 2009, and clarified the definition of “disconnected youth.” Revised Form 8850 , available on IRS.gov, is used by employers to request certification from their state workforce agency. «Read the rest of this article»

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New Vehicle Deduction

October 7, 2009 |

The “Cash for Clunkers” program for new cars may have ended, but the IRS wants to remind taxpayers that many people might overlook another special break available. If you buy a new vehicle this year, there’s a special federal tax deduction available that can help you save money, in some cases hundreds of dollars. This tax break will allow people who buy a new vehicle in 2009 to deduct the sales and excise taxes they pay when they file their tax return next year.  The tax deduction is available on the 2009 federal tax return even for those who claim the standard deduction.

Wyatt-Johnson Subaru & Hyundai in Clarksville Tennessee

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Back-to-School Tax Breaks; New $2,500 College Credit Available

September 10, 2009 |

Video: English | Spanish | ASL Podcast: English

Washington — In support of the Administration’s efforts to promote access and affordability of college education, the Internal Revenue Service today launched a new Web section highlighting various tax breaks and 529 plan changes designed to help parents and students pay for college.

The new Tax Breaks for Education section on IRS.gov includes tips for taking advantage of long-standing education deductions and credits. The “one-stop” location for higher education information includes a special section highlighting 529 plans and frequently asked questions. The web section also features two key changes that will be in effect during 2009 and 2010 that were included in the American Recovery and Reinvestment Act (ARRA), enacted earlier this year.

One change allows families saving for college to use popular 529 plans to pay for a student’s computer-related technology needs. Under the other change, more parents and students will be able to use a federal education credit to pay part of the cost of college using the new American opportunity credit.

“With many families struggling to afford college, we want every eligible taxpayer to know about their options and take advantage of all the tax breaks they can,” IRS Commissioner Doug Shulman said. “529 plans have become a very attractive way to save for college, and our web section is designed to help people get information about these plans. In addition, the new American opportunity credit can help many parents and students pay part of the cost of the first four years of college.”

Here are further details on the expanded 529 plans and the new American opportunity credit. «Read the rest of this article»

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IRS Features Recovery Tax Credits on YouTube, iTunes

September 1, 2009 |

Washington —  The Internal Revenue Service today announced the availability of video and audio products to help taxpayers take full advantage of the 2009 tax provisions in the American Recovery and Reinvestment Act.

The IRS has launched a YouTube video site and an iTunes podcast site to better serve taxpayers.

People can visit the video site at www.youtube.com/irsvideos to view information about the Recovery, tax tips and how-to videos. These videos will be in English, Spanish, American Sign Language and other languages. «Read the rest of this article»

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IRS alerts public to new identity theft scams

August 6, 2009 |

Washington —The Internal Revenue Service reminds consumers to avoid identity theft scams that use the IRS name, logo or Web site in an attempt to convince taxpayers that the scam is a genuine communication from the IRS. Scammers may use other federal agency names, such as the U.S. Department of the Treasury.

In an identity theft scam, a fraudster, often posing as a trusted government, financial or business institution or official, tries to trick a victim into revealing personal and financial information, such as credit card numbers and passwords, bank account numbers and passwords, Social Security numbers and more. Generally, identity thieves use someone’s personal data to steal his or her financial accounts, run up charges on the victim’s existing credit cards, apply for new loans, credit cards, services or benefits in the victim’s name and even file fraudulent tax returns. «Read the rest of this article»

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IRS offers tax credit guidance to businesses hiring unemployed veterans and certain youth

May 29, 2009 |

Washington — Businesses planning to claim the newly-expanded work opportunity tax credit (WOTC) for eligible unemployed veterans and unskilled younger workers hired during the first part of 2009 have until Aug. 17 to request the certification required for these workers, according to the Internal Revenue Service.

Newly-revised Form 8850, now available on IRS.gov, is used by employers to request certification from their state workforce agency. The American Recovery and Reinvestment Act, enacted in February, added unemployed veterans returning to civilian life and “disconnected youth” to the list of groups covered by the credit. Though eligible unemployed veterans and disconnected youth who begin work anytime during 2009 or 2010 may qualify a business for the credit, certification by the state workforce agency is required. «Read the rest of this article»

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Religious leaders tell pollsters that their churches do not endorse political candidates

November 2, 2008 |

Most clergy have rejected religious right drive to push churches into partisan politics, says AU’s Lynn

The overwhelmingly majority of America’s religious leaders have apparently rejected the Religious Right’s efforts to politicize their pulpits, according to Americans United for Separation of Church and State.

A new poll by LifeWay Research has found that 95 percent of pastors strongly disagree that their church has provided any endorsements. Baptist Press, the news service of the Southern Baptist Convention, reported Oct. 30 that 53 percent of Protestant pastors affirmed that they have “personally endorsed candidates for public office this year,” but only outside of their church roles.

Said the Rev. Barry W. Lynn, Americans United executive director, “I have always believed that the vast majority of America’s clergy had no interest in politicizing their houses of worship. Pulpit partisanship divides congregations and communities and jeopardizes the integrity of religious institutions.” «Read the rest of this article»

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AU urges IRS action against churches preaching politics from the pulpit

September 29, 2008 |

Church-State watchdog group criticizes religious right lawyers for luring congregations into intentional violation of federal tax law

Americans United for Separation of Church and State today filed complaints with the Internal Revenue Service about six churches whose pastors endorsed candidates from the pulpit during a mass defiance of federal tax law last Sunday.

The Alliance Defense Fund (ADF), a Religious Right legal group in Scottsdale, Ariz., urged pastors to defy federal tax law by endorsing or opposing candidates during a so-called “Pulpit Freedom Sunday” Sept. 28. Under the IRS Code, churches and other 501(c)(3) tax-exempt groups may not intervene in elections.

“These pastors flagrantly violated the law and now must deal with the consequences. This is one of the most appalling Religious Right gambits I’ve ever seen. Church leaders are supposed to tend to Americans’ spiritual needs, not behave like partisan political hacks. I urge the IRS to act swiftly in these cases.” ~~ Rev. Barry W. Lynn, executive director of Americans United.

Lynn also scored the ministers who took part in the ADF gambit. «Read the rest of this article»

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